Vantage Drilling may sell $960 million of five-year senior
secured notes to help pay for the 55 percent of Mandarin
Drilling Corp. it doesn’t already own, the Houston-based company
said in a statement distributed by Marketwire. Eight high-yield,
high-risk transactions financed acquisitions in July and June,
up from four in the first two months of 2010, according to data
compiled by Bloomberg.

Junk-bond sales reached $7.79 billion for the month, more
than double the $3.39 billion for the comparable period in June.
Gary Russell, head of high-yield bond portfolio management at
Deutsche Bank AG’s DWS Investments, called speculative-grade
debt “attractive” amid low Treasury yields, reduced default
expectations, and high equity volatility. Junk-bond issuance is
shifting toward leveraged buyouts from last year’s refinancing
transactions, he said in a press conference yesterday.

Proceeds will help fund the company’s buyout by affiliates
of Silver Lake Technology Management LLC and Warburg Pincus LLC,
according to a person familiar with the transaction, who
declined to be identified citing lack of authorization to
discuss the offering.

The 10.25 percent notes priced at par to yield 731 basis
points more than similar-maturity Treasuries, Bloomberg data
show. A basis point is 0.01 percentage point.

Buyout Funding

Earlier this month Fidelity National Information Services
Inc., the provider of banking and payment technology, sold $1.1
billion of seven-year and 10-year notes to help finance a stock
repurchase and refinance a credit facility used to acquire
Metavante Technologies Inc., according to a statement.

Three U.S. high-yield health companies are planning debt
sales for acquisition financing. Gentiva Health Services Inc.
plans $305 million of eight-year notes for the purchase of
Odyssey HealthCare Inc., it said in a May 24 regulatory filing
with the U.S. Securities and Exchange Commission.

InVentiv Health Inc. may sell $275 million of senior notes
to back the purchase its acquisition by Thomas H. Lee Partners,
it said in a regulatory filing.

Universal Health Services Inc. may sell $400 million of
senior unsecured debt to help finance the acquisition of
Psychiatric Solutions Inc., it said in a filing.

Calpine Corp., the Houston-based U.S. power producer, sold
$1.1 billion of senior secured notes due 2020, after boosting
the offering from $750 million, according to a person familiar
with the sale, who declined to be identified citing lack of
authorization to discuss the marketing. The debt yields 505
basis points more than similar-maturity Treasuries, Bloomberg
data show.

KfW Bonds

Kreditanstalt fuer Wiederaufbau, the government-owned
German bank, sold $1.5 billion of seven-year bonds in the only
investment-grade transaction yesterday. The notes yield 49.15
basis points more than Treasuries, Bloomberg data show.

Vantage Drilling plans to use some of the funds from its
note sale to pay for completion of an ultra-deepwater drilling
ship being built for Mandarin Drilling, the person familiar with
the sale said.

Companies sold $3.3 billion of debt yesterday, bringing the
week’s total to $5.17 billion, down 57 percent from $12.13
billion of issuance in the similar period last week.

Following is a description of at least $6.39 billion of
pending sales of dollar-denominated bonds in the U.S.

Investment Grade

EUROPEAN INVESTMENT BANK plans to sell bonds in dollars due
September 2013, according to a banker involved in the
transaction. The notes may be priced to yield about 17 basis
points more than the benchmark mid-swap rate, the banker said.
Deutsche Bank AG, Goldman Sachs Group Inc. and Morgan Stanley
are managing the sale, the banker said.

(Added July 21. See {654429Z LX <Equity> CN <GO>}.)

WAHA AEROSPACE BV plans to sell 10-year amortizing notes
bonds in dollars, according to a banker involved in the
transaction. The debt, which has an average life of 5 1/4 years,
may yield 225 to 230 basis points more than U.S. Treasuries, the
banker said. The notes are guaranteed by the Emirate of Abu
Dhabi, the banker said.

(Added July 21. See {WAHA UH <Equity> CN <GO>}.)

CAISSE D’AMORTISSEMENT DE LA DETTE SOCIALE, the state
agency charged with funding France’s social security debt, plans
to sell three-year bonds in dollars that may be priced to yield
28 basis points more than the benchmark mid-swap rate, according
to a banker involved in the transaction. JPMorgan Chase & Co.,
RBC Capital Markets and UBS AG are managing the sale, the banker
said.

(Added July 21. See {211430Z FP <Equity> CN <GO>}.)

CHICAGO PARKING METERS LLC may sell $500 million of 10-year
notes, according to a person familiar with the transaction.
Proceeds from the sale will be used to fund a cash distribution
to its owners, which include Morgan Stanley, Allianz AG and the
Abu Dhabi Investment Authority, said the person, who declined to
be identified because terms aren’t set. The issue was rated Baa3
by Moody’s and BBB- by S&P, according to separate statements by
the rating companies.

(Added July 20. See {MS US <Equity> CN <GO>}.)

NOMURA HOLDINGS INC. Japan’s largest brokerage, plans to
sell dollar-denominated sukuk, or Islamic bonds, in Malaysia,
according to a July 6 company statement. Nomura may sell $100
million of Ijarah sukuk that will mature in 2012. The securities
will yield 160 basis points more than the London interbank
offered rate, said Jamelah Jamaluddin, chief executive officer
of Kuwait Finance House (Malaysia) Bhd., a unit of Kuwait’s
biggest Islamic bank, the sale arranger. Standard & Poor’s
assigned a preliminary rating of BBB+ to the sukuk.

(Updated July 19. See {8604 JP <Equity> CN <GO>}.)

NASPERS LTD. hired Citigroup Inc., Barclays Capital and
JPMorgan Chase & Co. for a sale of seven-year bonds in dollars,
according to two people with knowledge of the transaction. The
company plans to meet with European, U.S. and Asian investors,
the people said. Moody’s Investors Service assigned a Baa3
rating to the proposed notes, which will be issued through the
Myriad International Holdings BV unit. Proceeds will be used to
repay debt and for general corporate purposes, according to
Moody’s.

(Updated July 21. See {NPN SJ <Equity> CN <GO>}.)

CHILE plans to sell $1 billion of 10-year bonds, along with
warrants and peso debt, according to a filing with the U.S.
Securities and Exchange Commission. Chile will use the proceeds
for general purposes, the filing said. The country is seeking
financing for repairs after a Feb. 27 earthquake and subsequent
tsunami killed more than 400 people and caused as much as $30
billion of damage. Moody’s upgraded Chile’s rating to Aa3 from
A1 on June 16, citing “economic and financial resilience even
in the face of major adverse shocks, including February’s
historic earthquake.”

(Updated July 7. See {45793Z CI <Equity> CN <GO>}.)

DOHA BANK QSC, Qatar’s third-largest bank, may raise as
much as $1 billion from bond sales, its chief executive officer
said. The money is likely to be raised for five years and is
meant to “fix the maturity mismatch” on the bank’s balance
sheet, Raghavan Seetharaman said in a June 16 telephone
interview from Doha. The bank hasn’t decided which currency to
sell the bonds in, he said. The lender said in April that it
planned to sell senior notes in dollars in a statement on the
Qatari bourse, without disclosing the size of the offering.

(Updated June 17. See {DHBK QD <Equity> CN <GO>}.)

FORETHOUGHT FINANCIAL GROUP INC. plans to sell $150 million
of 10-year bonds, according to a person familiar with the
transaction, who declined to be identified because terms aren’t
set. S&P assigned the notes a grade of BBB- in a March 24
report.

(Updated April 1. See {1038698Z US <Equity> CN <GO>}.)

Not Rated

VANTAGE DRILLING CO. may sell $960 million of five-year
debt to help pay for its acquisition of Mandarin Drilling Co.
and to finance the completion of a ultra-deepwater drilling
ship, according to a person familiar with the transaction.

(Added July 20. See {VTG US <Equity> CN <GO>}.)

The PROVINCE OF CORDOBA, Argentina, plans to sell as much
as $350 million of bonds in international markets once the
federal government completes a restructuring of defaulted debt,
Banco de Cordoba said.

(Added March 18. See {TNI ARGENT NEWBON <GO>}.)

SENSIENT TECHNOLOGIES CORP. said it entered into an
agreement with a group of four financial institutions for the
issuance of $110 million in fixed-rate, senior notes, according
to a Nov. 19 statement distributed by Business Wire. The company
plans to issue seven-year debt to repay existing indebtedness,
Sensient said in a March 1 regulatory filing.

(Updated March 16. See {SXT US <Equity> CN <GO>}.)

High Yield

JBS SA, the world’s biggest beef producer, plans to sell
benchmark dollar bonds due in 2018, according to a person
familiar with the offering. Banco Santander SA and JPMorgan
Chase & Co. are arranging the offering, said the person, who
declined to be identified because terms aren’t set. Standard &
Poor’s assigned the proposed notes a BB rating. A benchmark
issue is typically at least $500 million.

(Added July 21. See {JBSS3 BZ <Equity> CN <GO>}.)

AIR CANADA, the country’s largest airline, plans to sell
$900 million of senior secured notes due 2015 to be issued in
U.S. dollars and Canadian dollars, the company announced in a
statement distributed through CNW Telbec. Air Canada intends to
use some of the proceeds to repay debt under its July 2009
credit agreement, according to the statement. Moody’s Investors
Service assigned a B2 rating to the proposed notes.

(Added July 21. See {AC/A CN <Equity> CN <GO>}.)

ENTRAVISION COMMUNICATIONS CORP., a media company that
targets Spanish-speaking customers, said it intends to offer
$385 million aggregate principal amount of senior secured first
lien notes due 2017 and enter into a new revolving credit
facility of up to $50 million. Moody’s assigned the notes a
grade of B1.

(Added July 20. See {EVC US <Equity> CN <GO>}.)

ACCURIDE CORP., the Evansville, Indiana-based maker of
wheels for trucks and trailers, said it may sell $300 million of
first-priority, senior-secured notes due 2018. Proceeds from the
offering will help refinance the company’s existing senior
credit facility, Accuride said in a statement.

(Added July 20. See {ACUZ US <Equity> CN <GO>}.)

E-LAND FASHION CHINA HOLDINGS LTD, the Hong Kong-based
apparel products provider, hired Morgan Stanley to help it sell
$200 million of three-year bonds, according to a person familiar
with the matter. The company plans to begin meeting with
investors in Asia, Europe and the U.S. on July 19, said the
person who declined to be identified because terms aren’t set.
Moody’s Investors Service assigned the proposed notes a Ba2,
citing growing personal consumption in China, E-Land Fashion’s
moderate scale and significant business volatility. Proceeds
will be used for mainly for capital expenditures and general
corporate purposes, Moody’s said in the report.

(Added July 19. See {3233509Z HK <Equity> CN <GO>}.)

ENERGYSOLUTIONS INC., the Salt Lake City-based nuclear
services company, has amended its credit facility and plans to
refinance that debt with borrowings under new loans and an
offering of senior notes, the company said July 13 in a
statement distributed by Marketwire. Standard & Poor’s assigned
the proposed $300 million senior unsecured notes due 2018 a BB-on July 15.

(Updated July 19. See {ES US <Equity> CN <GO>}.)

CALUMET SPECIALTY PRODUCTS PARTNERS LP, the Indianapolis-based refiner of specialty hydrocarbon products, plans to sell
$450 million of senior notes. Proceeds will be used to repay
bank debt, the company said in a July 12 statement distributed
by Business Wire. Calumet Specialty plans to market the 10-year
notes beginning through July 16, according to a person familiar
with the transaction. Standard & Poor’s assigned the notes a B
rating.

(Added July 13. See {CLMT US <Equity> CN <GO>}.)

GENTIVA HEALTH SERVICES INC., the U.S. home-nursing
company that is buying Odyssey HealthCare Inc., plans to sell
$305 million of eight-year notes, the Atlanta-based company said
in a May 24 regulatory filing, without specifying the timing of
the transaction. Proceeds will be used to help fund the
takeover, according to the filing. Standard & Poor’s assigned
the unsecured notes a B- credit rating on June 29. Moody’s
Investors Service rated the notes a grade of B2 and ranked $925
million of loans three steps higher at Ba2, it said in a report.

(Updated July 1. See {GTIV US <Equity> CN <GO>}.)

UNIVERSAL HEALTH SERVICES INC., the operator of more than
100 U.S. medical facilities that’s buying Psychiatric Solutions
Inc., plans to sell $400 million of senior unsecured debt to
help finance the acquisition, it said in a filing with the
Securities and Exchange Commission.

(Added June 28. See {UHS US <Equity> CN <GO>}.)

PROMSVYAZBANK OJSC, Russia’s third-largest private bank,
plans to sell $200 million of six-year loan participation notes
at a yield of 11.25 percent, according to two people with
knowledge of the sale.

(Updated July 6. See {PRSB RU <Equity> CN <GO>}.)

TITAN INTERNATIONAL INC., the maker of tire and wheel
systems for off-highway equipment, said it plans to sell at
least $150 million of senior unsecured notes. Proceeds will be
used to repurchase the 8 percent senior unsecured notes due in
2012 and for general corporate purposes, the Quincy, Illinois-based company said in a May 13 statement distributed by Business
Wire.

(Added May 17. See {TWI US <Equity> CN <GO>}.)

INVENTIV HEALTH INC., the provider of sales and marketing
services to science companies that is being acquired by Thomas
H. Lee Partners, may sell $275 million of senior notes to back
the purchase, it said in a regulatory filing. Standard & Poor’s
assigned a B- rating to the proposed notes due 2018. Moody’s
Investors Service assigned them a Caa1.

(Updated July 15. See {NI COECO <GO>}.)

Offerings in Pipeline

CZECH REPUBLIC plans to sell as much as $2 billion of
dollar bonds to diversify from koruna and euro debt, Eduard
Janota, whose term as finance minister ended this week, said in
an interview for Mlada Fronta Dnes newspaper.

(Added July 19. See {NI CZECH BN <GO>}.)

POTASH CORPORATION OF SASKATCHEWAN INC., the world’s
largest fertilizer company by capacity, filed a registration
statement with the U.S. Securities and Exchange Commission for
$2 billion of debt securities.

(Added July 7. See {POT US <Equity> CN <GO>}.)

INDONESIA plans to name three banks to help it sell
approximately $650 million of Islamic bonds in October, Dahlan
Siamat, director for Islamic financing at the finance ministry,
said in a telephone interview in Jakarta. The government sold
its first international Islamic dollar bonds in April 2009.

(Added July 7. See {ECST ID <GO>}.)

OAO GAZPROMBANK, the lending unit of Russia’s gas export
monopoly, hired Barclays Capital, Royal Bank of Scotland Group
Plc, and UBS AG to organize meetings with investors in Europe
and Asia starting July 5, according to two people with knowledge
of the transaction.

(Updated July 6. See {GZPR RU <Equity> CN <GO>}.)

CORPORACION FINANCIERA DE DESAROLLO SA Peru’s state
development bank known as Cofide, plans to sell as much as $250
million of dollar-denominated bonds, according to Chief
Financial Officer Carlos Linares. Linares said in an interview
in Lima, that the lender is selling long-term debt as it boosts
lending to local infrastructure projects. “Peru’s need for
infrastructure is huge,” Linares said. “The government is
trying to promote foreign investment in a long list of
projects.”

(Added July 6. See {NI PEECO <GO>}.)

SRI LANKA plans to sell dollar-denominated bonds, according
to its central bank. The South Asian country’s third-ever
overseas offering is likely after August, Central Bank of Sri
Lanka Assistant Governor C.J.P. Siriwardena said in a telephone
interview on June 30.

(Added July 1. See {ECO SL <GO>}.)

GEORGIAN RAILWAY LTD. plans to sell five-year bonds in
dollars that may be priced to yield about 10 percent, according
to two people with knowledge of the sale. The company hired Bank
of America Corp.’s Merrill Lynch unit and JPMorgan Chase & Co.
to manage the transaction.

(Updated July 15. See {GRAIL <Corp> RELS <GO>}.)

JORDAN plans to sell about $500 million of bonds, Finance
Minister Mohammad Abu Hammour said in an interview on June 23.
The sale will be denominated in U.S. dollars “as it’s a stable
currency and the Jordanian dinar is pegged to it,” Abu Hammour
said.

(Added June 24. See {TNI JORDAN ECO <GO>}.)

URUGUAY may sell as much as $1 billion of bonds in 2011,
including $500 million of dollar-denominated debt, Carlos
Steneri, director of public credit at Uruguay’s Ministry of
Economy and Finance, said June 3 at a LatinFinance conference in
London. The dollar-denominated bonds may have a maturity of 20
years or more, Steneri said.

(Added June 7. See {172369Z UY <Equity> CN <GO>}.)

MALAYSIA plans to raise about $1 billion from its first
sale of conventional dollar bonds in eight years after drawing
bids for five times the Islamic debt it offered, a finance
ministry official said. The government may hire the same banks,
including CIMB Group Holdings Bhd. and HSBC Holdings Plc, to
arrange the sale by Sept. 30, said the official, who declined to
be named as the discussions are private. Malaysia raised $1.25
billion from a Shariah-compliant dollar bond on May 27. Malaysia
is rated A3 by Moody’s and A- by S&P.

(Added June 2. See {TNI MALAY BON <GO>}.)

INDOSAT PALAPA CO., a unit of Indonesia’s second-largest
phone operator, delayed a planned dollar bond sale until market
conditions improve, a person familiar with the matter said May
26. Indosat began meetings with investors in Asia, the U.S. and
Europe on May 12 to gauge demand for a global bond sale,
according to a company statement sent to the Indonesian stock
exchange that day. Moody’s assigned a provisional Ba1 rating to
the notes and S&P rated them BB, one step lower.

(Updated June 1. See {ISAT IJ <Equity> CN <GO>}.)

SABIC CAPITAL, a unit of Saudi Basic Industries Corp., will
sell bonds when market conditions and rates are favorable, its
vice president for corporate finance Mutlaq al-Morished told al-Arabiya television in Dubai on June 16. Sabic delayed a bond
sale because of unfavorable spreads, al-Morished said in a May
26 telephone interview. Sabic Capital had hired HSBC Holdings
Plc, JPMorgan Chase & Co. and Royal Bank of Scotland Group Plc
to manage a benchmark-sized offering.

(Updated June 17. See {SABIC AB <Equity> CN <GO>}.)

GHANA is considering selling its second dollar bond in 2011
to tap investor demand as the start-up of oil production boosts
economic growth and narrows the budget deficit, Deputy Finance
Minister Fifi Kwetey said. The government is considering a “no-deal roadshow” as early as the fourth quarter to gauge
international investors’ appetite, Kwetey said in a May 26
interview in Abidjan. Ghana sold its first global bond in 2007,
raising $750 million to help fund the construction of roads and
power plants.

(Added May 27. See {1084Z GN <Equity> CN <GO>}.)

ANGOLA received credit ratings from Moody’s, S&P, and Fitch
Ratings that put it on par with Nigeria, Lebanon and Belarus,
and paved the way for a planned sale of international bonds. The
southern African nation’s creditworthiness was rated at B+ by
S&P and Fitch, four levels below investment grade. Moody’s
assigned an equivalent ranking of B1.

{Updated May 24. See {TNI ANGOLA NEWBON <GO>}.)

EURASIAN NATURAL RESOURCES CORP., a London-based iron ore
and alumina producer with operations in China and Russia, said
it delayed its first dollar bond sale. The company is
“postponing meetings with investors regarding a potential bond
issuance under its Euro Medium Term Note program until further
notice,” Charlotte Kirkham, a spokeswoman for ENRC, said in an
e-mail. The company had hired Deutsche Bank AG and Morgan
Stanley to manage the sale, according to a person familiar with
the transaction.

(Updated May 24. See {ENRC LN <Equity> CN <GO>}.)

CHINA ORIENTAL GROUP CO. plans to sell senior notes to
provide working capital and possibly to finance the purchase of
steel mills and iron ore assets in China. Deutsche Bank AG will
manage the sale with ING Groep NV, according to a statement to
the Hong Kong stock exchange.

(Added May 2. See {581 HK <Equity> CN <GO>}.)

BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM received
approval from the central bank to issue 7 trillion dong ($369
million) of notes and another 3 trillion dong of dollar-denominated notes in 2010, according to a statement on State
Bank of Vietnam’s Web site.

(Added April 27. See {393438Z VN <Equity> CN <GO>}.)

BOLIVIA plans its first international bond sale in more
than 70 years as early as the end of 2011, Finance Minister Luis
Arce said. He didn’t disclose the size of the offering.

(Added April 26. See {1003Z VB <Equity> CN <GO>}.)

POWER SECTOR ASSETS AND LIABILITIES MANAGEMENT CORP. of the
Philippines may sell between $750 million and $1.5 billion of
dollar-denominated bonds “anytime” to help refinance maturing
debt through next year, Vice Chairman Jose Ibazeta said. The
company manages the finances of state utility National Power
Corp.

(Updated April 14. {791227Z PM <Equity> CN <GO>}.)

BRISBANE AIRPORT CORP., owner of Australia’s third-busiest
airport, may sell bonds in the U.S. later this year as it
pursues new markets to help refinance debt and pay for a new
runway. The company is considering a 10- or 15-year U.S. private
placement and a five- to seven-year Australian dollar bond sale
in late 2010 or early 2011, Chief Financial Officer Tim Rothwell
said in a phone interview from Brisbane.

(Added March 24. See {1515Z AU <Equity> CN <GO>}.)

VIETNAM NATIONAL COAL-MINERAL INDUSTRIES GROUP, the state-owned coal producer known as Vinacomin, plans to sell as much as
$500 million of bonds overseas this year to fund mining and
energy projects, according to Deputy Chief Executive Officer
Nguyen Van Hai.

(Added March 23. See {3138489Z VN <Equity> CN <GO>}.)

FINLAND may sell five-year bonds denominated in dollars
this year, the Finnish Treasury said in a document posted on its
Web site.

(Added March 9. See {1306Z FH <Equity> CN <GO>}.)

MONGOLIA plans to raise $500 million selling bonds this
year and the remainder of a planned $1.2 billion program will be
sold according to market conditions, Batbayar Balgan, director
general of the financial and economic policy department of
Mongolia, said at a forum in Ulan Bator on June 16. The
government scaled back its plans for global bond sales this year
after Europe’s debt crisis drove up borrowing costs. Investment
banks are advising Mongolia to issue debt with maturities of 5
to 10 years, Bayartsogt said in a Feb. 9 interview. The
securities may yield 8 percent to 11 percent, he said.